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UBS On-Air: Paul Donovan Daily Audio 'Don’t blame the ISM'
Published 1 year, 4 months ago
Description
Equity markets had one of their funny turns yesterday. Some commentators, searching for scapegoats, want to blame the US ISM manufacturing sentiment poll. This seems unfair, as the ISM sentiment poll does not know what it is doing. Despite sentiment signaling five months of contraction, US manufacturing output is above where it was at the start of the year.